Catalyst allows miners to get paid in Bitcoin with any alt-coin miner. If your machine can mine one of our supported coins, then you can mine Bitcoin today. Just register for a user account, turn on Catalyst, and start earning satoshis.
How to enable Catalyst?
Enabling Catalyst is extremely simple, you need:
- A Luxor account
- A Bitcoin Wallet Address
- Mine one of our supported Altcoins
If you don’t have a Luxor Account start by signing up. Check our User Accounts step-by-step Setup Guide.
After you login into our platform, you’ll need to add a Bitcoin address. To do so, navigate to the My Account section, enter a valid address and define your payment threshold. Payment thresholds can be as low as 0.005 Bitcoin to as large as 0.1 Bitcoin.
Then, go to your dashboard and enable the coin you want to be automatically paid in BTC. Is as simple as that!
Catalyst vs Nicehash
Nicehash requires an active group of sellers and buyers to continuously find an efficient price. You take on high-fees on both ends of the trade.
Nicehash removes from miners the ability to determine how and which blockchain they want to secure. Miners sell their hashing power to one centralized entity that handles their hashrate at their own will.
Catalyst, on the other hand, gives back that power to miners. The miner is on control of their hashrate and they can choose to secure any network with their hashrate at a lower fee and while being rewarded in Bitcoin.
How does it work under-the-hood?
The mining process remains untouched. Miners start hashing one of the supported altcoins and their account gets paid out through our PPS reward structure. The only difference is that we are paying in Bitcoin for your hashrate.
Luxor is building infrastructure to support the next generation of digital assets. Learn more about us 👉 here.
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I need clarification on one aspect still. In a previous description of Catalyst, you stated that you "sell the hashrate" for BTC. I understood that to mean it was a hashrate marketplace similar to Nicehash. Now, as I read this updated post, I understand that you sell our mined altcoins (in my case, DCR) for BTC and pay us in BTC. Is that correct?
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